News / Edgy air cargo market could see 'a crazy' peak season rates boom

Some,Chinese airlines have had to cancel flights owing to quarantine requirements © Colicaranica

Air freight rates may have edged up in the past month – but forwarders are reporting that falls in capacity due to cancelled flights, combined with vast amounts of distressed sea freight, could see a “crazy” market next month.

“We cautioned last month that a cooling in rates was likely to be short-lived and, as we see a re-acceleration, particularly on US-bound routes, that may turn out to be the case,” Bruce Chan, of Stifel, told the Baltic Exchange.

“It’s almost silly ...